- M.I.T.’s Robert Solow suggested that, at U.S. levels of inequality, inequality (might be) retarding growth. Columbia’s Joseph Stiglitz and others have also made (the same argument).
- Ask a Keynesian: With Borrowing Capped, Won't More Pentagon Spending Destroy Jobs?
John Cassidy, New Yorker
Submitted by Evergreene Digest Contributing Editor Billy Wharton
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Photograph: Mario Tama/Getty
November 18, 2013 | Last Friday, the Center for American Progress, the center-left think tank founded by Bill Clinton’s former chief of staff John Podesta, held a conference to launch its new Washington Center for Equitable Growth. The new center, which is being funded by the Sandler Foundation, will finance academic research into the causes and effects of inequality, broadly conceived, and function as a hub for policy makers, journalists, and others involved in the subject.
It was an interesting morning, featuring some of the top researchers in the field, and I moderated one of the panel sessions. In some brief opening remarks, I noted that Washington has long had a number of centers promoting inequitable growth, so it only seems fair to have one supporting equitable growth. And having learned a good deal from the panelists, I thought it might be worthwhile to share some of the charts they brought with them. Taken together, the pictures convey a good deal of what we know about inequality. They also raise important questions about the channels through which it impacts economic growth and human development.
John Cassidy, a staff writer at The New Yorker since 1995, has written many, many articles for the magazine, on topics ranging from Alan Greenspan and Ben Bernanke to the Iraqi oil industry and the economics of Hollywood.
Ask a Keynesian: With Borrowing Capped, Won't More Pentagon Spending Destroy Jobs? Robert Naiman, Just Foreign Policy
- Cutting Social Security to protect the Pentagon from cuts would destroy American jobs, because Social Security checks - and all other forms of domestic spending - boost the economy more than unnecessary Pentagon spending does.
- Ask Krugman, Reich, Stiglitz: With Borrowing Capped (Sequester), Won't More Pentagon Spending Destroy Jobs?